Brokerages Set Eaton Co. plc (NYSE:ETN) Price Target at $357.16

Eaton Co. plc (NYSE:ETN) has earned an average recommendation of “Moderate Buy” from the nineteen brokerages that are presently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $356.68.

ETN has been the topic of several research reports. Evercore ISI cut their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. KeyCorp upgraded shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective on the stock in a research note on Wednesday, March 12th. Jefferies Financial Group decreased their target price on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research note on Tuesday, January 28th. Finally, StockNews.com downgraded Eaton from a “buy” rating to a “hold” rating in a research note on Friday, March 21st.

Eaton Trading Down 5.6 %

NYSE ETN opened at $246.36 on Friday. Eaton has a 12-month low of $236.58 and a 12-month high of $379.99. The company has a fifty day simple moving average of $296.43 and a two-hundred day simple moving average of $330.00. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The stock has a market cap of $96.52 billion, a P/E ratio of 25.93, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the business posted $2.55 earnings per share. On average, analysts forecast that Eaton will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is 43.79%.

Institutional Investors Weigh In On Eaton

Large investors have recently bought and sold shares of the company. United Bank acquired a new position in Eaton in the 3rd quarter valued at $258,000. Townsquare Capital LLC raised its position in shares of Eaton by 48.1% in the third quarter. Townsquare Capital LLC now owns 5,081 shares of the industrial products company’s stock valued at $1,684,000 after buying an additional 1,651 shares during the last quarter. Freedom Investment Management Inc. lifted its stake in shares of Eaton by 117.2% in the third quarter. Freedom Investment Management Inc. now owns 2,433 shares of the industrial products company’s stock worth $806,000 after buying an additional 1,313 shares in the last quarter. CreativeOne Wealth LLC boosted its position in Eaton by 114.1% during the third quarter. CreativeOne Wealth LLC now owns 2,843 shares of the industrial products company’s stock worth $942,000 after acquiring an additional 1,515 shares during the last quarter. Finally, Fiduciary Trust Co grew its stake in Eaton by 26.6% during the 3rd quarter. Fiduciary Trust Co now owns 25,221 shares of the industrial products company’s stock valued at $8,359,000 after acquiring an additional 5,303 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.